229 Free Test Bank for Essentials of Marketing A Marketing Strategy Planning Approach 13th Edition by Perreault

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Which of the following statements about marketing is FALSE?

•  A. Marketing concepts and techniques apply for nonprofit organizations-as well as for profit-seeking organizations.
•  B. Marketing offers many rewarding career opportunities.
•  C. The cost of marketing is about 15 percent of the consumer's dollar.
•  D. Marketing affects almost every part of your daily life.
•  E. Marketing is vital for economic growth and development.

From a micro view, which of the following is the best example of marketing?

•  A. North Korea unveils a new five-year production plan.
•  B. China and the U.S. agree on a new trade agreement.
•  C. The American Red Cross seeks more blood donors.
•  D. The Internet makes it possible for firms to reach customers in other countries.
•  E. None of these is a good example.

Which of the following statements best describes the modern view of marketing?

•  A. Marketing is only necessary for profit-oriented firms.
•  B. Marketing consists mainly of advertising and personal selling.
•  C. Marketing anticipates customer needs.
•  D. Marketing begins as soon as products are produced.
•  E. Firms that don't rely on e-commerce should put more emphasis on marketing.

Which of the following statements by a U.S. president best reflects a MICRO view of marketing?

•  A. "A tax cut will give consumers more spending money."
•  B. "With interest rates low, many young people can now afford to buy a new home."
•  C. "In the United States we have a better choice of products than in any other country."
•  D. "My administration will spend 75 percent more on purchases related to domestic security during the next year."
•  E. "Tourism firms should advertise more to attract more international visitors."

____________________ is the extent to which a firm fulfills a customer's needs, desires, and expectations.

•  A. Customer forecast
•  B. Customer satisfaction
•  C. Customer service
•  D. Customer support

For Tesla, a new firm that makes an electric sports car, estimating how many competitors will make electric vehicles and what kinds they will make, is:

•  A. one of the universal functions of innovation.
•  B. a production activity.
•  C. an example of the micro-macro dilemma.
•  D. best left to intermediaries.
•  E. a part of marketing.

Marketing:

•  A. applies to both profit and nonprofit organizations.
•  B. says that marketing should take over all production, accounting, and financial activities.
•  C. should begin as soon as goods are produced.
•  D. does away with the need for advertising.

Marketing

•  A. affects almost every aspect of our daily lives.
•  B. offers few exciting or rewarding career opportunities.
•  C. limits our choices of goods and services every day.
•  D. focuses an organization on being the first to market a new product.

According to the text, marketing means:

•  A. Distribution.
•  B. Making good products.
•  C. More than selling and advertising.
•  D. Promotion.
•  E. Performing services.

Which of the following organizations would be least likely to need marketing skills?

•  A. An accountant
•  B. An electronics retailer
•  C. A toy manufacturer
•  D. A financial advisor
•  E. All of these organizations would be likely to need marketing skills.

Effective marketing should begin with

•  A. an effort to persuade unwilling customers to buy the firm's products.
•  B. potential customer needs.
•  C. a decision about what the firm can produce efficiently.
•  D. evaluation of the effect of the firm's decisions on the MACRO-marketing system.
•  E. the marketing manager making important production, accounting, and financial decisions for the firm.

Marketing

•  A. means "selling" or "advertising."
•  B. provides direction for production.
•  C. involves actually making goods or performing services.
•  D. does not impact consumers' standard of living.
•  E. is the development and spread new ideas, goods, and services.

In an advanced economy, marketing costs account for about ___ cents of every consumer dollar.

•  A. 10
•  B. 20
•  C. 30
•  D. 40
•  E. 50

Marketing

•  A. applies to both profit and nonprofit organizations.
•  B. is another name for selling and advertising.
•  C. should pick up where the production process ends.
•  D. people should expect that the production department will determine what goods and services are to be developed.

All of the following should be determined by the marketing department of a firm EXCEPT:

•  A. storing the product.
•  B. actually making the product.
•  C. advertising the product.
•  D. designing the packaging for the product.
•  E. setting the price of the product.

Which of the following statements best describes the modern view of marketing?

•  A. The job of marketing is to get rid of whatever the company is producing.
•  B. Marketing should take over production, accounting, and financial services within a firm.
•  C. Marketing is concerned with generating a single exchange between a firm and a customer.
•  D. Marketing begins with anticipating potential customer needs.
•  E. Production, not marketing, should determine what goods and services are to be developed.

According to the text, marketing means:

•  A. making a good product that sells itself.
•  B. much more than selling and advertising.
•  C. selling and advertising.
•  D. producing goods and/or services.
•  E. doing whatever it takes to be able to offer consumers a "better mousetrap."

According to the text, marketing means:

•  A. much more than just selling and advertising.
•  B. advertising.
•  C. producing a product that fills a need.
•  D. selling.
•  E. making a good product that sells itself.

Marketing should

•  A. begin with the production process.
•  B. make decisions about product design and packaging, prices or fees.
•  C. not need to coordinate with production, accounting, and financial activities.
•  D. provide input, but let production determine what goods and services are to be developed.
•  E. focus on getting customers to make a final purchase.

Predicting what types of bicycles different customers will want and deciding which of these customers the business will try to satisfy are activities a firm should do as part of

•  A. production.
•  B. a command economy.
•  C. marketing.
•  D. making goods or performing services.
•  E. a production orientation.

_______ is defined as the performance of activities that seek to accomplish an organization's objectives by anticipating customer needs and directing a flow of need-satisfying goods and services from producer to customer.

•  A. Innovation
•  B. Advertising
•  C. Selling
•  D. Marketing (from a micro view)
•  E. Sales promotion

The text stresses that:

•  A. advertising and selling are not really part of marketing.
•  B. marketing is nothing more than a set of business activities performed by individual firms.
•  C. marketing techniques have no application for nonprofit organizations.
•  D. marketing is a social process and a set of activities performed by organizations.
•  E. a good product usually sells itself.

Customer satisfaction is the extent to which a firm fulfills a consumer's:

•  A. needs.
•  B. desires.
•  C. expectations.
•  D. needs and desires.
•  E. all of these are correct.

Micro-marketing:

•  A. tries to accomplish a company's objectives by anticipating customers' needs and trying to satisfy them.
•  B. begins with the production process.
•  C. involves persuading customers to buy your product.
•  D. is a social process involving all producers, intermediaries, and consumers.
•  E. tries to make the whole economic system fair and effective.

Marketing:

•  A. emphasizes mass selling over personal selling.
•  B. allows production, rather than marketing, to determine what products to make.
•  C. applies to both profit and nonprofit organizations.
•  D. concentrates on production, rather than advertising.
•  E. none of these is a true statement about marketing.

According to the text, marketing means:

•  A. much more than selling and advertising.
•  B. selling.
•  C. producing and selling.
•  D. advertising.
•  E. selling and advertising.

Marketing could NOT take place without:

•  A. intermediaries.
•  B. collaborators.
•  C. two or more parties who are willing to exchange something for something else.
•  D. a high standard of living.

Looking at marketing as a set of activities focuses on

•  A. macro-marketing.
•  B. for-profit marketing.
•  C. micro-marketing.
•  D. nonprofit marketing.
•  E. personalized marketing.

Which of the following is NOT a reason for you to study marketing?

•  A. Marketing affects almost every aspect of daily life.
•  B. Marketing will be important to your job.
•  C. Marketing involves actually making the goods that people need.
•  D. Marketing affects innovation and consumers' standard of living.
•  E. Marketing plays a big part in economic growth and development.

The production of a new mountain bike model includes which of the following activities?

•  A. Determining how to get the new model to likely bike purchasers.
•  B. Actually making the new mountain bikes.
•  C. Estimating how many competing companies will be making bikes.
•  D. Predicting what types of bikes different types of bike riders will want.

The development and spread of new ideas, goods, and services for the marketplace is called:

•  A. marketing.
•  B. the micro-macro dilemma.
•  C. collaboration.
•  D. innovation.
•  E. production.

Micro-marketing:

•  A. is concerned with whether the whole economic system is fair and effective.
•  B. applies only to profit organizations.
•  C. consists only of personal selling and advertising.
•  D. is a social process only.
•  E. tries to anticipate and satisfy customer needs and accomplish an organization's objectives.

Marketing can be viewed as:

•  A. a set of activities performed by individual organizations.
•  B. relevant to for-profit organizations only.
•  C. just selling and advertising.
•  D. beginning with the production process.

Marketing encourages research and _______________, the development and spread of new ideas, goods and services.

•  A. analysis
•  B. assessment
•  C. evaluation
•  D. innovation
•  E. introspection

From a micro view, marketing

•  A. applies to large corporations but not to a new venture started by one person.
•  B. is an important social process.
•  C. emphasizes how the whole marketing system works.
•  D. is a set of activities performed by an individual organization to satisfy its customers.
•  E. directs an economy's flow of goods and services from producers to consumers.

The aim of marketing is to

•  A. help create a pure subsistence economy.
•  B. eliminate the need for exchanges.
•  C. persuade customers to buy the firm's product.
•  D. identify customers' needs and meet those needs so well that the product almost "sells itself."
•  E. facilitate a single transaction.